Question: 5 . What is the accounting equation? A ) Assets = Liabilities + Equity B ) Assets + Liabilities = Equity C ) Assets =

5. What is the accounting equation?
A) Assets = Liabilities + Equity
B) Assets + Liabilities = Equity
C) Assets = Revenue - Expenses
D) Liabilities = Assets + Equity
6. Which of the following is NOT a characteristic of managerial accounting?
A) Focus on future projections
B) Use of historical data
C) Internal report

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